SLIPIT Purchase

To: Company Announcements Date: 12 August 2014 Company: Standard Life Investments Property Income Trust Limited Subject: SLIPIT Purchase Standard Life Investments Property Income Trust is pleased to confirm it hascompleted the purchase of three logistics units for a total sum of £28.65m,reflecting an initial yield of 7%. The three units are Tetron 93 in Swadlincote, let at £431,000pa until 2021,Tetron 141 Swadlincote, let at £670,500pa until 2022 (but with tenant break in2018), and Denby 242, let at £1,032,000pa until 2025 (with a tenant break in2020). All three units were built in 2008 / 2009 and provide good qualitymodern accommodation. The purchase follows the recent equity raise and increases the Company'sexposure to the industrial sector to 30% and follows the investment rationaleof buying good quality real estate that is well let. Jason Baggaley, Fund Manager of SLIPIT commented "I am delighted we have beenable to secure these investments off market and invest some of the recentequity raised. The three modern units were all let at the bottom of the cycleand, with a shortage of available stock in the Midlands logistics market, weexpect them to perform well. We are actively working on several otherinvestment opportunities to invest the remainder of the funds available. All enquiries: Jason BaggaleyStandard Life Investments LimitedTel: 0131 245 2833